Boxed beef cutout values were higher on Choice and steady on Select on moderate to fairly good demand and moderate to heavy offerings.
- Choice up 41.07 cents to $232.05/cwt.
- Select up down 7 cents to $221.15/cwt.
In negotiated cash sales in Nebraska, the USDA reported 353 live sales Thursday at $126.50. No dressed sales were reported. In Iowa, 72 head were sold live at $129, with dressed sales of 35 head at $204.
Cash markets for cattle traded higher today, with Kansas at $126, Texas at $127 and Nebraska also higher, according to The Hightower Report. USDA’s estimated cattle slaughter numbers came in at 121,000 head Monday, up 1,000 head from last week and up 115,000 from 2018.
Stewart-Peterson says beef prices are their highest since mid-May, “and with the hog markets stabilizing, we expect more stable to higher trade.” Most analysts expect this week’s Cattle on Feed report to be slightly bearish.